FAR Retake

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    Topic
  • #188954
    JJacinto
    Member

    Hey all, I have taken FAR 3 times and been within points of passing each time. It is very frustrating, but I am ready to knock it out. It’s my last test, even though FAR was the first one I took. I get motivated when I have a plan, but I can’t figure out what needs to change in my plan. Previously I have studied MCQ’s a lot and very few sims (the chance of having one like the practice ones is very small). I scored comparable in all categories this last time, which is also frustrating. I don’t know what to improve. So what did you do? Write bullet points of important things to memorize? Reread the book? or head straight for MCQ’s? I have a 5 week timeline before my scheduled test, but it’s always subject to change. Please let me know! Thanks!

    B: 84
    A: 86
    R: 82
    F: 74,74,73

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  • #610454
    Anonymous
    Inactive

    Wait, you scored comparable in both MCQ and simulations and still didn't pass? I am practicing simulations big time this time around and understanding how to do the adjusting entries. I've had similar results in FAR missing it by less than five points on three occasions. For the first time ever I took non stop notes. Let's see if it helps as I take my exam on the 1st. If you haven't purchased Ninja MCQ, do so now and practice all the sims.

    #610455
    CPA50
    Participant

    I've got a new strategy, since my old one didn't help on my weak areas -calculations and JE.

    I made an Excel spreadsheet with JE templates to fill in for each question. I also have tab for each major area so I can organize my topics.

    I find that I remember better if I can solve the question in an organized spreadsheet than on yellow legal pads. Those were great for taking notes, but Excel is helping me for the calculations. I also can write notes alongside each JE to help me remember the why along with the how.

    Best wishes!!

    AUD - 80
    BEC - 77
    FAR - 80
    REG - 80
    3 years

    + 16 tests

    + 2 expired sections

    = DONE FOREVER!

    AUD 88 (expired), 80 retake
    FAR 64,69,67,73,67,73,73,73, August 3
    REG 75 (expired) September 7
    BEC 72, 77

    The adventure continues...

    #610456

    It looks like you already know your stuff and just need a couple more points.

    I failed FAR quite a few times but the last time, I did something similar to the candidate above me but I also took got a yellow pad and took notes for each chapter and just jotted down detailed notes of important topics. Writing it down and reading it later helps reinforce for me. For example (I copied and pasted this from my other post):

    Ex. Chapter 2 (Becker)

    Exchange Lacking Commercial Substance

    – FV can't be determined

    – No change in cash flow

    Gains

    – NO boot received = no gain

    – Boot paid = no gain

    – Boot received = recognize proportional gain (<25% rule)

    (Total boot received/ total consideration given) x total gain realized

    * In tax -> gain recognized to extent of boot

    – If boot is 25% or more of total consideration = considered monetary = recognize all gain/loss

    These short blurbs may help you. Good luck! You can do it!

    AUD- 76 | Fail | 92
    REG- fail | 80
    BEC- 78 | 83
    FAR- fail | fail | fail | 77

    CA PETH 98%

    I AM DONE. PRAISE THE LORD GOD ALMIGHTY.

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